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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 (0.60%) to 9265.80, DAX (0.50%) to 24152.87, CAC40 (1.70%) to 7709.81, STOXX 600 (0.83%) to 554.20

Aug 26 ,2025

  • Synopsis:

    • European equity markets closed lower, but off worst levels. Greece (1.9%), France (1.7%). Denmark (1.2%) led the underperformers whilst Switzerland (0.4%), Austria (0.6%), Norway (0.2%) led the outperformers.

    • Big story involved President Trump announcing he is removing Fed Governor Cook 'for cause', effective immediately over prior allegations mortgage fraud. Cook responded by saying she would not resign and that Trump lacked authority to remove her. Her lawyer also flagged unspecified actions against Trump's decision, fitting with thought Cook could seek immediate injunction to reinstate her while situation plays out in court. Discussions also pivoted back to long-running concerns about White House pressure on Fed and associated risk to its independence.

    • Trump also issued more tariff threats on Monday, flagging extra duties and export controls on countries that impose digital taxes on American tech companies. Trump also said China must ensure continued flow of rare earths magnets or face tariffs of up to 200%. Trump met with South Korean President Lee on Monday. Trump rebuffed efforts to alter trade deal struck in July while two discussed investment and purchase commitments involving shipbuilding.

    • In political developments in Europe, attention on developments in France after PM Bayrou called confidence vote on controversial budget for 8-Sept. Increases risk of collapse of government and another election. Nothing new from recent ECB comments, which reinforce expectations that the ECB very close to end of easing cycle. In UK, update from retail group BRC showed acceleration in UK food price inflation, which fits in with notion of upside risk for inflation. Meanwhile, vacancies for entry-level jobs hit five-year low. More conjecture over UK fiscal risk and potential headwind for currency.

    • In corporate news, Molecular Partners (MOLN.SW) reported financial results and highlights for H1 2025. Flughafen Zuerich (FHZN.SW) posted H1 net income of CHF161.3M, exceeding the CHF151.2M forecast. In Benelux, DEME Group (DEME.BB) reported H1 earnings and confirmed its expectation or the full-year. Out of the Nordics, Bakkafrost (BAKKA.NO), Grieg Seafood (GSF.NO), BW LPG (BWLPG.NO), Royal Unibrew (RBREW.DC) released Q2 earnings report. In the UK, Bunzl (BNZL.LN) reported H1 numbers and reiterated FY25 outlook with expectations for improved performance in H2. Debenhams Group (DEBS.LN) confirmed prelim. FY results.

    • On M&A front, Sidara reduced possible offer price for John Wood Group (WG.LN) to 30p/sh. Halma (HLMA.LN) acquired Brownline for €150M (~£129M) and Bunzl announced two further acquisitions in Spain and Mexico.

    • In other corporate updates, British American Tobacco (BATS.LN) announced CFO Soraya Benchikh is stepping down with effect from 26-Aug; appointed Javed Iqbal as interim CFO.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers

        • Telecom (0.13%), Oil & Gas (0.19%), Basic Resources (0.30%), Ind Goods & Svcs (0.35%), Technology (0.44%), Retail (0.49%), Financial Svcs (0.54%), Utilities (0.57%), Real Estate(0.63%), Chemicals (0.70%), Autos & Parts (0.74%), Health Care (0.75%)

      • Underperformers

        • Banks (1.75%), Media (1.59%), Insurance (1.52%), Construct & Mtls (1.48%), Food & Beverage (1.09%), Travel & Leisure (0.87%), Persnl & HHold Goods (0.82%)

    • Macro/Peripheral markets:

      • Geopolitics

        • Trump administration weighs sanctions on officials implementing EU tech law, sources say - Reuters

      • EU

        • EU stands its ground on digital rules despite Trump warning - FT

      • UK

        • UK migrant arrivals on small boats reach new record - Reuters

        • Food price inflation jumps to 17-month high - London Times

        • Think tank expects unemployment rate to hit 5% - FT

        • Nature loss will cut UK GDP by 5% without action - Guardian

        • UK migrant arrivals on small boats reach new record - Reuters

      • France

        • France's government risks another collapse - Bloomberg, Reuters

        • Bayrou's days numbered, as opposition says will vote against it - Le Parisien

        • French Premier Risks Government Collapse as Opposition Grows - Bloomberg

      • Germany

        • Government continuing Merkel's fiscal policy - FAZ

        • Germany car industry cuts over 50K jobs in one year - FAZ

        • Germany and Canada announce deeper ties on critical minerals, defense - Politico; release

      • Norway

        • General election opinion poll - TV 2

    • Company news:

      • Notable Gainers

        • +14.9% SOLG.LN (SolGold £0.16, +0.02) -- initiated speculative buy at Canaccord Genuity

        • +14.8% BIOA.B.SS (BioArctic SEK269.80, +34.80) -- company and Novartis sign option, collaboration and license agreement using BrainTransporter for upfront payment of $30M plus additional potential milestones and royalties

        • +13.0% WIHN.SW (WISeKey International Holding CHF8.94, +1.03)

        • +5.8% ORSTED.DC (Ørsted DKK189.40, +10.30)

        • +5.7% EKF.LN (EKF Diagnostics Holdings £0.29, +0.02) -- contracts

        • +5.3% BNZL.LN (Bunzl £25.10, +1.26) -- H1 earnings; announces two further acquisitions in Spain and Mexico

        • +4.7% DIA.IM (Diasorin €90.46, +4.08) -- Morgan Stanley upgrade

        • +2.5% ENQ.LN (EnQuest £0.13, -0.00) -- initiated buy at Peel Hunt; signs production sharing contracts for the Gaea and Gaea II exploration blocks

        • +2.3% FHZN.SW (Flughafen Zuerich CHF245.20, +5.60) -- H1 earnings

        • +1.7% YAR.NO (Yara International NOK378.40, +6.20) -- BASF and Yara end joint project for low-carbon ammonia at U.S. Gulf Coast

        • +1.5% DEBS.LN (Debenhams Group £0.15, -0.00) -- FY earnings

        • +0.8% VIRI.FP (Viridien €55.05, +0.45) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • +0.6% HUBN.SW (HUBER+SUHNER CHF108.60, +0.60)

        • +0.3% GSF.NO (Grieg Seafood NOK69.20, +0.20) -- Q2 earnings

        • +0.3% BOUV.NO (Bouvet NOK71.90, +0.20) -- Q2 earnings

      • Notable Decliners

        • -18.0% EOLU.B.SS (Eolus Aktiebolag SEK46.95, -10.25) -- Q2 earnings

        • -8.9% VETN.SW (Vetropack Holding CHF27.50, -2.70) -- H1 earnings

        • -8.7% TXGN.SW (TX Group CHF204.50, -19.50) -- H1 earnings

        • -8.7% BINV.SS (BioInvent International SEK33.00, -3.15) -- announces strategic changes in portfolio; reports Q2 earnings

        • -6.5% GLE.FP (Societe Generale €52.18, -3.64) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -5.5% BIM.FP (bioMerieux €119.20, -6.90) -- Morgan Stanley downgrade

        • -5.0% PUM.GR (Puma €20.66, -1.09) -- inault family reportedly weighing options for Puma -- Bloomberg

        • -4.8% CBK.GR (Commerzbank €34.48, -1.73) -- BofA downgrade

        • -4.5% KUD.SW (Kudelski CHF1.38, -0.06) -- H1 earnings

        • -4.2% CS.FP (AXA €39.26, -1.70) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -4.1% KGF.LN (Kingfisher £2.70, -0.12) -- Deutsche Numis downgrade

        • -3.7% BWLPG.NO (BW LPG NOK156.80, -6.00) -- Q2 earnings

        • -3.5% ABF.LN (Associated British Foods £22.34, -0.80) -- Deutsche Numis downgrade

        • -2.7% JIN.NO (Jinhui Shipping & Transportation NOK6.44, -0.18) -- Q2 earnings

        • -2.5% ORA.FP (Orange €13.87, -0.36) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -2.4% ALO.FP (Alstom €20.91, -0.51) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -2.3% RBREW.DC (Royal Unibrew DKK464.80, -11.00) -- Q2 earnings; announces new share buy-back program for up to DKK 300M

        • -2.0% TTE.FP (TotalEnergies €53.03, -1.06) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -2.0% BMPS.IM (Banca Monte dei Paschi di Siena €8.20, -0.17)

        • -1.9% BATS.LN (British American Tobacco £42.35, -0.82) -- CFO steps down

        • -1.8% CCH.LN (Coca-Cola HBC £38.20, -0.72)

        • -1.7% MB.IM (Mediobanca €21.18, -0.37)

        • -1.6% BAKKA.NO (Bakkafrost NOK430.00, -7.00) -- Q2 earnings

        • -1.3% DMP.GR (Dermapharm Holding €33.15, -0.45) -- H1 earnings

        • -1.2% FYNBK.DC (Fynske Bank DKK168.00, -2.00) -- H1 earnings

        • -1.1% EN.FP (Bouygues €36.56, -0.40) -- PM Bayrou called confidence vote on controversial budget for 8-Sept

        • -0.8% ISOFOL.SS (Isofol Medical SEK0.86, -0.01) -- Q2 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: Vienna Insurance Group (VIG.AV), CA Immobilien Anlagen (CAI.AV)

        • Belgium: Ageas (AGS.BB), Agfa-Gevaert (AGFB.BB), Van de Velde (VAN.BB)

        • Denmark: Copenhagen Airports (KBHL.DC), Sydbank (SYDB.DC), FirstFarms (FFARMS.DC), Møns Bank (MNBA.DC), Luxor (LUXOR.B.DC), Lego (+LEGO.DC)

        • France: TotalEnergies EP Gabon (EC.FP)

        • Germany: Aroundtown (AT1.GR), Sto (STO3.GR), FamiCord (V3V.GR)

        • Netherlands: NX Filtration (NXFIL.NA), Kendrion (KENDR.NA)

        • Norway: Hafnia (HAFNI.NO), SED Energy Holdings (ENH.NO), Edda Wind (EWIND.NO), Rana Gruber (RANA.NO), Integrated Wind Solutions (IWS.NO), Saga Pure (SAGA.NO)

        • Southern Europe: Motor Oil (Hellas) Corinth Refineries (MOH.GA), Mota-Engil (EGL.PL)

        • Sweden: Cereno Scientific (CRNO.B.SS), Smart Eye (SEYE.SS), GomSpace Group (GOMX.SS), IRLAB Therapeutics (IRLAB.A.SS)

        • Switzerland: Accelleron Industries (ACLN.SW), Stadler Rail (SRAIL.SW)

        • UK: Hochschild Mining (HOC.LN), Faron Pharmaceuticals (FARN.LN)

  • Data:

    • Economics:

      • Finland Jul Unemployment Rate 9.3% vs consensus 9.7% and prior 9.9%

      • Sweden Jul PPI (0.6%) y/y vs consensus (2.0%) and prior (3.1%)

      • France Aug Consumer Confidence 87 vs consensus 90 and prior revised 88 from 89

    • Markets:

      • WTI Crude (Oct 25): ($1.20) or (1.85%) to $63.60

      • €-$ +0.0030 or +0.26% to 1.1651

      • £-$ +0.0023 or +0.17% to 1.3478

      • €-£ +0.0009 to 0.8646

      • S&P 500 (0.01%)

        • Performance year-to-date

        • FTSE 100: +13.21%

        • DAX: +21.45%

        • CAC: +4.52%

        • MIB: +24.97%

        • Stoxx 600: +9.19%

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
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